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The Chairperson of Bank’s Board Ilona Gulchak participated in the Azerbaijani Banking and Finance Forum 2015 held on 4 and 5 February in Baku. The Forum brought together banking and finance experts, business partners, heads of supervisory bodies and banks from different countries.

During the discussion on the development of private banking, I. Gulchak told the participants about Bank’s 20-plus years of experience related to the area. She also focused on the global trends prevailing in private banking and wealth management.

„In 2014, the number of millionaires worldwide reached 34.8 million individuals. The growth in international wealth and the number of high-net-worth boosts interest in bespoke wealth management services. Demand for the services rises 5 percent annually. Moreover, wealth holders are placing greater focus on wealth growth, rather then only preservation. Opportunities for cross-border investment diversification are becoming ever more important. Clients are more and more interested in choosing investment strategy independently,” Ilona Gulchak said. „One of the most recent trends in private banking is the rapid emergence of digital technologies which provide clients with more convenience and better investment opportunities.”

The leading financiers, advisors, and representatives of investment companies and enterprises from Europe and Asia participated in the discussions. Senior executives from the European Investment Bank, Oracle, Kendris, Unibank, the Asian Development Bank, the World Bank Group experts, and representatives of banks and financial institutions from Azerbaijan and other countries attended the Forum. The main topics that were discussed were the opportunities for development of Azerbaijan’s banking and financial services sectors, strategies of developing investment vehicles and financial instrument, and the latest trends in private banking and wealth management.

Azerbaijan is one of the Caspian region’s most interesting and promising markets and is open to international cooperation. Azerbaijani economy continues to grow at a steady pace. The country determinedly operates in the international capital markets while concurrently developing the domestic financial market and its instruments.